Raiden (ASX: RDN, DAX: YM4) reveals more high-grade lithium at Andover South, shares jump

Highlights

• The second batch of assay results for Andover South has reported further high-grade lithium and rubidium results.
• The most significant lithium assay is 2.73% Li₂O and rubidium assay is 0.55% Rb.
• Mapping and sampling have defined a high-grade Li₂O trend within the central portion of the pegmatite field with a strike extent of over 1.5km.
• Further samples have been collected for analysis.

Shares of Raiden Resources Limited (ASX:RDN) surged by ~10% to trade at AU$0.022 apiece during the early morning trade on 10 October 2023 following the release of another set of assay results for Andover South Project.

The latest results from mapping and rock chip sampling at the Andover South tenements have reported the highest-grade lithium and rubidium results to date. The results indicate the high potential for lithium-tantalum-caesium (LCT) pegmatites mineralisation at the project.

For the first batch of assay results, click here.

The most significant assay results from the second batch comprised –

• 2.73% Li₂O - sample R21532
• 2.70% Li₂O - sample R21499
• 2.59% Li₂O - sample R21596
• 2.44% Li₂O - sample R21526
• 2.14% Li₂O - sample R21533
• 2.07% Li₂O - sample R21631
• 1.96% Li₂O - sample R21542
• 1.80% Li₂O - sample R21534
• 1.53% Li₂O - sample R21541
• 1.50% Li₂O - sample R21529
• 1.47% Li₂O - sample R21598
• 1.42% Li₂O - sample R21528
• 1.23% Li₂O - sample R21527
• 1.13% Li₂O - sample R21489

The latest results have also reported anomalous rubidium values. Of the total samples, 45% have returned >0.1% Rb, with the highest values up to 0.55% Rb.

RDN continues to assess the distribution of elevated Rb values in connection to the lithium values and their relationship.

Data source: company update 

More

Throughout September, the company conducted the mapping and outcrop sampling campaign over E47/4061 and E47/4062.  

The program focused on outcropping pegmatites aimed at defining the distribution, extent of mineralisation, geometry, and widths of the pegmatites.

To date, ∼300 rock chip samples have been gathered from the Andover South tenement. The initial assay batch comprised 81 samples, while the second batch included 219 samples.

The mapping team has collected further samples for analysis.

Meanwhile, Raiden continues to examine the potential for LCT mineralisation across its project portfolio, comprising Mt Sholl, Tabba Tabba, Arrow and Pyramid projects.

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